It’s difficult for stock, financial and currency market traders to ignore what is going on in the grain futures markets this week. Corn, soybean and wheat futures have rocketed to multi-year highs amid an expected surge in demand for grains from China and its booming economy. Surging grain prices are just one more in a string of clues (and it’s a strong one) that global inflation is on the rise and may become untamable down the road. U.S. grain futures were lower in early U.S. pre-market trading Friday, on corrective pullbacks from limit or near daily limit gains on Thursday. China demand rumors, cold weather in the U.S. midsection this week and a bullish global supply and demand balance is fueling the grain market bulls. More upside in the grains is likely in the coming months. Stay tuned to my daily markets reports for early clues on bigger price moves in the grains, including discussing weather markets in the grains. Stay tuned! Jim
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